VISHAL KAPOOR,GURGAON vs. ITO WARD-4(1), GURGAON

Heard both the parties at length. Case file perused.

Learned counsel submits during the course of hearing that the assessee’s sole substantive grievance raised in the instant appeal is directed against both the lower authorities’ action denying section 10(2A) exemption of Rs.2,34,647/- i.e. share profits and remuneration from the partnership firm concerned, for the sole reason that there was a mistake in ticking the prescribed exemption in the Income Tax Return. It is made Vishal Kapoor 2 clear that there is no dispute in principle between the parties about the assessee having derived the impugned exempt income from his partnership firm only.

That being the case, the tribunal hereby deems it appropriate in the larger interest of justice to condone the assessee’s above mistake in wrongly ticking the prescribed Income Tax Return and directs the learned assessing authority to finalize a fresh computation as per law after verification of all the relevant facts in very terms. Ordered accordingly.

This assessee’s appeal is allowed for statistical purposes. Order Pronounced in the Open Court on 23/07/2025. (Satbeer Singh Godara)